Dalton's debt leaves Ontario families falling further behind

TORONTO , Oct. 21 /CNW/ -

    
    NEWS
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Ontario PC Party Leader Tim Hudak and PC Finance Critic Norm Miller today outlined their expectations for tomorrow's Fall Economic Statement.

Hudak drew attention to Dalton McGuinty's record of fiscal incompetence. Since taking office Dalton McGuinty has increased Ontario's net debt by a staggering $53 billion dollars . This equates to more than $11,000 in new debt for every single household in Ontario. Dalton McGuinty has managed to rack up these historically bad debt numbers despite imposing record income and business tax increases.

Miller noted that, since the McGuinty Government's recent economic predictions have consistently underestimated the size of their deficit; the numbers offered in this year's economic statement should be treated with suspicion.

    
    QUOTES
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"To raise taxes so massively but still pile up such massive amounts of debt is a once-in-a-generation example of incompetence. As the architect of both largest tax increase and largest debt increase in Ontario's history -Dalton McGuinty's time as Premier is already one for the history books."

- Ontario PC Leader Tim Hudak

"Middle class families are forced to work longer and harder than ever, just to keep their heads above water. At the end of those long hours, they have nothing to show for it except for less time with their children, less time at home, and less money left on their paychecks. To pay for Dalton's Debt they will now be forced to work even longer and even harder still."

- Ontario PC Leader Tim Hudak

"It is clear that whatever numbers Dwight Duncan offers up tomorrow will not be worth the paper they are printed on. This government has demonstrated it is completely incompetent and unprepared for the challenges of the recession."

- Ontario PC Finance Critic Norm Miller

    
    QUICK FACTS
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    -   When Dalton McGuinty came to office Ontario's debt was $148 billion

    -   Today Ontario's debt is $201 billion ($53 billion more)

    -   On a per household basis (StatsCan) Dalton McGuinty has increased
        Ontario's debt by $11,041 for ever family in Ontario.

    -   In order to pay off Dalton's Debt, the average Ontario family would
        have to work 446 more hours or 55.75 days above and beyond what they
        are working now.

    -   Over the past six years Dalton McGuinty has increased government
        spending by 60%

    -   Over that same time period Ontario's economy has only grown by 7.3%

    -   While Dalton McGuinty was increasing spending by 60%, provincewide
        median household income has only increased by 0.5%,

    -   Over the same period, a typical dual-income household has seen an 18%
        increase in taxes and fees.
    

For further information: Greg Medulun, [phone], [email protected]